AI data infrastructure company VNet has raised $5 billion in strategic financing, achieving a post-investment valuation of $190 billion. Coatue led the round, with participation from Blackstone, MGX, T. Rowe Price, and Sixth Street Growth. The company will use the funds to advance its AI infrastructure development, product research and development, and mergers and acquisitions. Co-founder and chief executive officer Ali Ghodsi said VNet's current annualised revenue operating rate has exceeded $7 billion, representing year-on-year growth of over 80%.

Closes $5 billion strategic funding at a $190 billion valuation, led by Coatue, along with Blackstone, MGX, T.

Air Canada is selling a 25% stake in its Aeroplan loyalty programme to an investor group led by Blackstone and La Caisse for $2.5 billion, valuing the programme at $10 billion. The airline will retain 75% ownership and full operational control. Air Canada plans to use the proceeds to repay a US$1.2 billion debt maturity and fund share buybacks, including an $800 million substantial issuer bid expected to complete in September. The investor group also includes PSP Investments and British Columbia Investment Management Corporation. Air Canada retains the right to repurchase the investors' stake between the fifth and eighth anniversaries of the transaction. The investment is scheduled to settle on 17 August 2026.